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Rite Aid plans to close more than 20 more stores in two states.
The drugstore chain filed a “Notice of Additional Store Closures” in federal bankruptcy court in New Jersey on Monday, adding a total of 27 stores in Michigan and Ohio to its closures.
Twelve of the companies are in Michigan, according to the filing. The remaining 15 are in Ohio.
A customer enters a Rite Aid store in Los Angeles on December 22, 2021. (Mario Tama/Getty Images/Getty Images)
FOX Business reached out to Rite Aid for comment on the additional store closure plans but did not receive a response as of press time.
Rite Aid to close 53 more stores during bankruptcy
The Pennsylvania-based company has closed numerous stores across the U.S. while undergoing Chapter 11 bankruptcy proceedings.
A person walks outside a Rite Aid Pharmacy on May 27, 2021, in New York City. (Noam Galai/Getty Images/Getty Images)
Rite Aid operates more than 1,700 stores nationwide, according to its website.
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The company has been in the bankruptcy process since mid-October when it announced its decision to file for Chapter 11 bankruptcy protection as part of a restructuring to “significantly reduce the company’s debt, increase financial flexibility and enable it to execute on key initiatives.”
A customer inside a Rite Aid store on Oct. 16, 2023, in New York. (Bing Guang/Bloomberg via Getty Images/Getty Images)
Rite Aid said the process includes the continued optimization of store square footage.
Rite Aid to close 154 stores in 15 states: see the full list here
“This court-supervised process will provide Rite Aid with the legal tools to accelerate the optimization of its store footprint in an efficient and orderly manner,” Rite Aid CEO Jeffrey Stein said at the time. “We look forward to working closely with our landlords to determine the best path forward for each of our stores.”
